A. Amendment
GSTN Advisory on IMS on Supplier View
To further facilitate the taxpayers, the Supplier View of IMS has also been made available where the action taken by their recipients on the records/invoices reported in GSTR-1/1A/IFF, will be visible to the suppliers in ‘Supplier View’ functionality. This will help a supplier taxpayer to see the action taken on their reported outwards supplies and will help to avoid any wrong action taken by the recipient taxpayer.
DGFT-Public Notice No. 32/2024-25 dated 13.11.2024
DGFT issued Public Notice No. 32/2024-25 dated 13.11.2024 to make Amendment in Para 4.71 of Handbook of Procedures, 2023
Notification no. 118/2024 dated 12.11.2024- Income tax
CBDT issued notification no. 118/2024 dated 12.11.2024 to hereby notify the “Petroleum and Natural Gas Regulatory Board” (hereinafter referred to as “the assessee”), a board constituted under the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006) for the purposes of the sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961 (43 of 1961)
B. Article
Appeal filed beyond condonable period after writ proceedings disposal not maintainable
by CA Bimal Jain
The Hon’ble Andhra Pradesh High Court, in the case of M/s Reddy Enterprises held that the appeal filed beyond condonable period after disposal of the writ petition in favour of the Petitioner by granting relief of setting aside of order subject to certain conditions is not maintainable. However, a alternate view has arisen wherein the Hon’ble High Court has relied upon the judgment of the Hon’ble Supreme Court and stated that “the period from the date of filing of the writ petition and the date on which it was dismissed as not entertained should have been excluded, in terms of Section 14 of the Limitation Act.” as in the said case the writ petition was dismissed on account of availment of alternate remedy of appeal.
SCN lacking reasons is liable to be set aside
The Hon’ble Telangana High Court, in the case of M/s. Nice Enterprises held that the Department should not issue the SCN merely to the Assessee by simply mentioning the provisions of Section 29(2)(e) of the CGST Act. The SCN should contain sufficient factual and elementary details so as to enable the Assessee to file effective reply, such notices violate the principle of natural justice. Hence, the Impugned SCN was set aside.
GST Amnesty Scheme: Key Steps and New Forms for Taxpayers
by R.SRIVATSAN, IRS, NACIN, CHENNAI
GSTN has issued an advisory on 09-11-2024 outlining the steps for individuals to pay their tax demand under the GST Amnesty Scheme of Sec:128A.
C. Tax in Media
Faster ITC claim: Now suppliers can see & take action on whether buyer rejected the invoice or accepted it on the new IMS portal of GST
55th GST Council meeting: Know date and venue and key agendas
GST Council may waive 18% tax on senior citizens’ insurance plans in Dec
Government may impose this import restriction on laptops, tablets and PCs starting 2025
Enhancing Tax Transparency on Foreign Assets and Income
What is TAN (Tax Deduction and Collection Account Number)?
Webinar-1
Topic – Intricacies on RCM w.r.t new amendment & Overview of IMS by CA Saradha Hariharan on 14.11.24 at 2pm, English medium, Rs. 100/- Registration form https://zcmp.in/Uoj4
Webinar-2
Topic – GST Litigation Course – 3 days – 2 hours each – Suggestion Form – https://forms.gle/8Lp9d17ha1GewUN88
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